The Securities and Exchange Commission announced its latest step aimed at protecting investors by issuing an update to its list of Public Alert: Unregistered Soliciting Entities (PAUSE) The PAUSE Program lists firms that falsely claimed to be registered, licensed,...
Former Goldman Sachs banker sentenced to 10 years in bribery, embezzlement case
A former banker for Goldman Sachs has been sentenced to prison after being convicted of helping to embezzle billions of dollars from Malaysia’s 1MDB development fund, reports Financial Advisor. 51-year-old Roger Ng was sentenced last week in federal court to 10 years...
FINRA bars LA broker who failed to cooperate with investigation
The Financial Industry Regulatory Authority has barred a Los Angeles broker from the industry, according to AdvisorHub. The action was taken against Antoine Souma, who runs his own registered investment advisory firm, Galliott Capital Advisors in Beverly Hills. The...
SEC bars former broker-dealer for defrauding pension plans out of $43M
A former California broker-dealer was barred by the Securities and Exchange Commission over his involvement in a scheme to defraud various pension plans, Financial Advisor reports. The SEC took the enforcement action against 50-year-old Jason Sugarman of Los Angeles,...
2 brokers suspended, fined by FINRA over Reg BI violations
Two registered representatives have been fined and suspended by the Financial Industry Regulatory Authority for violating the Securities and Exchange Commission’s Regulation Best Interest (Reg BI) rule, reports ThinkAdvisor. FINRA announced the actions against Todd...
